secunet reports 12% revenue growth in first half 2023
Cybersecurity firm secunet Security Networks AG reported a 12% increase in revenue for the first half of 2023, reaching 151.5 million euros. The company confirmed its full-year forecast.
secunet Security Networks AG announced on Tuesday, August 8, 2023, a significant 12% increase in revenue for the first half of 2023, reaching 151.5 million euros. This compares to 135.5 million euros in the same period of the previous year.
The growth was primarily driven by strong business performance in the second quarter of 2023, which generated 96.3 million euros in revenue. This represents a 37% increase from the prior-year quarter. Accelerated business momentum, particularly within the public sector, contributed to this upswing.
Earnings before interest and taxes (EBIT) for the secunet Group stood at 4.0 million euros for the first half. This figure is lower than the 14.9 million euros reported in the first half of 2022, reflecting seasonal revenue patterns. However, the company maintained a robust order backlog of 191.6 million euros as of June 30, 2023.
Based on these results, secunet confirmed its full-year 2023 forecast. The company anticipates significant sales growth to approximately 375 million euros and a slight increase in EBIT to around 50 million euros. This outlook aligns with secunet's typical business cycle, where the second half of the year traditionally sees higher activity, especially due to procurement processes in the public sector.